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VND9,574 billion needed to develop Dong Nai’s mechanical industry for 2006-2010 period

Dong Nai considers its mechanical industry as one of key industries. During the past years, this industry has considerable growth rate, both in scale and products, making a certain contribution to the industrialization and modernization of the province. Its average growth rate in the 2001-2005 period reached 25.9 percent per year, far more than that of the whole industry (18.7 percent per year). In order that Dong Nai can strive for an industrial province by 2010, the Provincial People's Committee has issued a decision No.746/2005/QD-CT.UBT dated February 4, 2005 to approval for the project to develop Dong Nai’s industry for the 2006-2010 period, in which the mechanical industry plays a key role in implementing industrialization and modernization.

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Accordingly, the objectives of the mechanical industry in the coming years is to grow faster than industries in general, leading to structure transfer and increasing the density of industry. On the grounds that the production capacity of the current products is promoted, the mechanical industry is expected to meet the demands in domestic and export markets, raise its competitive ability in the process of international economic integration, step up investment attraction in production of new products, in modern and high technology and so on, strongly expand auxiliary industrial products and facilitate its development into a key industry of the province. By 2010, the production value of mechanical industry is strived for threefold increase compared to 2005 and by 2002 six-point-twofold increase compared to 2010.

Specifically, for the 2006-2010 period, it is necessary to choose the suitable mechanical product structure and be able to forecast objective impacts from outside and of the globalization process. Moreover, some of main industries in the province will be focused such as construction mechanics, agricultural mechanics, consumption mechanics and car & motorbike mechanics. Auxiliary industrial products will be also needed to encourage for development such as textile, garment, footwear, chemicals and so on especially car & motorbike mechanics, facilitating the fast development of mechanical industry. It is necessary to specially pay attention to improve and stabilize quality and innovate designs and models of products especially exported ones such as agricultural devices, automobiles, washing machines, refrigerators, air conditioner and so on

Besides, It is necessary to promote research and produce new generation devices such as RV engines with high capacity and numerous functions, new microwave oven model and other spare parts, accessories etc as well as attract a number of investment projects for construction mechanics and textile/garment so that within 8 to 10 years it is possible to finish the renovation of a generation of technological devices and equipment. Coordinating with sectors and areas especially ones in southern key economic zone to develop Dong Nai’s mechanical industry along the direction of specialization is one of the tasks needed to pay attention to in the coming time.

In order to carry out objectives and projects for mechanics sector in the 2006-2010 period, Dong Nai determines the amount of investment capital of around VND9,574 billion or USD600 million (averagely USD120 million per year). This is a huge amount of capital so it requires focusing on attracting both domestic and foreign investment to be able to meet the demand.

Written by Thuy Lien, Translated by THKC

Author: admin

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